fetching latest news

News tagged in:  

Santos NEWS

ConocoPhillips farms out Northern Australian business to Santos
Oct. 14, 2019
Source: Reuters

ConocoPhillips farms out Northern Australian business to Santos

ConocoPhillips has farmed out its northern Australian business to Santos Ltd in a $1.39 billion deal. The acquisition, which will boost Santos’ output by 25%, is second in the line of major acquisitions made by the Australian firm this year. While ConocoPhillips will let go of the Darwin LNG plant and gas fields off northern Australia, it will hold onto its stakes in the Australia Pacific LNG plant in Queensland.

Santos registers record quarterly gas production
July 18, 2019
Source: Reuters

Santos registers record quarterly gas production

Australian energy firm, Santos Ltd has registered record gas production in the second quarter, supported by stronger output across its gas assets. Santos recorded a jump from 14.2 mmboe last year to 18.6 mmboe. The production figure beat analysts’ expectation of 17.78 mmboe. Santos also saw a jump in sales for the three-month period to 22.4 mmboe from 19.1 mmboe in the previous year, producing $959 million in revenue.

Santos to buy stakes in PRL 3
May 16, 2019

Santos to buy stakes in PRL 3

Santos has decided to buy 14.3% stakes in the Petroleum Retention License 3 Joint Venture. It will buy the stakes for $187 million. The effort to be a part of the PNG LNG project is in line with Santos' expansion plan. ExxonMobil being the major stakeholder of this venture has agreed to sell its holding in the P'nyang gas field in Papua New Guinea to Santos.

First oil for Santos from Van Gogh project
Jan. 23, 2019

First oil for Santos from Van Gogh project

Australian oil and gas giant, Santos has informed about producing first oil from the Van Gogh infill project, offshore Western Australia. The project, which commenced in September of 2018, involved drilling of two subsea wells and their completion. The wells were, then, connected into existing offshore infrastructure. Santos holds 52.5% stakes and the operatorship of the Van Gogh-Coniston-Novara project.

Shell and Santos' JV secures Queensland acreage
Nov. 19, 2018
Source: World Oil

Shell and Santos' JV secures Queensland acreage

Australian oil major, Santos’ JV with supermajor, Shell has secured new acreage in Queensland’s key gas-producing Surat and Bowen Basins. Spread across almost 400 sq km of area, exploration activities in the new acreage will aim at the natural gas in deep sandstone reservoirs of the Bowen Basin. Santos is the designated operator of the license.

ACCC approves Quadrant’s acquisition
Nov. 19, 2018
Source: World Oil

ACCC approves Quadrant’s acquisition

Santos announced the proposed acquisition of Quadrant Energy on 22 August 2018. The company has now informed that the pre-condition of Australian Competition and Consumer Division for the completion of acquisition has been fulfilled and the completion might occur within weeks. CEO of Santos said “We already have very significant growth projects across our five core assets, and Quadrant’s recent oil discovery at Dorado is another exciting opportunity for us,”

Santos CEO announced future plans
Sept. 27, 2018
Source: World Oil

Santos CEO announced future plans

At the Investor Day of Santos in Sydney, CEO of the company announced the plan to increase production to more than 100 MMboe by 2025. This approach is in line with the successful implementation of 2016 transform-build-grow strategy of Santos. He said “We are now positioned for disciplined growth leveraging existing infrastructure in all five of our assets in the portfolio”

Santos’ assets sale reduces its debt
Sept. 8, 2018
Source: World Oil

Santos’ assets sale reduces its debt

Santos has completed its sale of interests in the Sampang PSC and Madura Offshore PSC in Indonesia, and Vietnam Block 12W PSC. It follows the company’s announcement in May 2018 when Santos decided to sell its non-core Asian portfolio to Ophir Energy plc. Santos received a cash proceed of $144 million after the completion. It will help the company reduce its debt which was $2.2 billion till Aug. 31, 2018.

Santos buys Quadrant Energy
Aug. 23, 2018

Santos buys Quadrant Energy

Santos Ltd will buy the privately held Quadrant Energy in a $2.15 billion deal. Santos will then have access to the biggest oil field in Australia in over two decades. Santos informed that in order to leave its dividend policy unaffected, it will fund the deal in cash. Also, after this deal, the annual production of Santos will rise by 32%.

PetroChina awards LNG supply contract
July 20, 2018

PetroChina awards LNG supply contract

Hong Kong-based PetroChina has awarded a three-year-long LNG supply contract to ExxonMobil’s PNG LNG project. Under the terms of the contract, 0.45 million tonnes a year (0.45Mt/y) of LNG from the operation in Papua New Guinea, will be supplied to PetroChina, reaching 1.35 million tonnes in 3 years. The PNG LNG project is already supplying some 6.6Mt to major Asian customers like Sinopec, Osaka Gas and others.

Santos and ConocoPhillips award FEED contracts
June 19, 2018
Source: World Oil

Santos and ConocoPhillips award FEED contracts

ConocoPhillips and Santos Energy, who are working together on the Barossa offshore project in Australia, have awarded three FEED contracts for the development. The engineering contract for the design of an FPSO has been awarded to MODEC and a consortium of TechnipFMC and Samsung Heavy Industries, as a design competition. The third contract was secured by INTECSEA for the subsea infrastructure, which involves umbilicals, flowlines, risers and gas export pipeline.

World’s biggest oil and gas industry bid collapsed
May 30, 2018
Source: Economic Times

World’s biggest oil and gas industry bid collapsed

Rising oil prices combined with a massive debt killed the world's biggest private equity oil and gas industry deal a week ago. Harbour Energy, which came to Australia looking to become a major LNG player, left the country empty-handed after a year of chasing gas producer, Santos. Santos rejected Harbour’s final offer of $10.8b last week for its stakes in three LNG projects in Australia and Papua New Guinea.

Santos rejects Harbour’s $10.8b bid
May 22, 2018
Source: Reuters

Santos rejects Harbour’s $10.8b bid

Santos, today, rejected Harbour’s final “take it or leave it” $10.8b bid for company’s final takeover, and henceforth, terminated all discussions. Harbour made a final offer for Santos this week after a sheer rise in global crude oil prices. The company indicated that Harbour’s offer did not represent it’s true worth and accepting their bid was not in the best of its interests.

Harbour Energy offers $10.8b bid to Santos
May 21, 2018
Source: Bloomberg

Harbour Energy offers $10.8b bid to Santos

Offering a bid of US $10.8b, US centered Harbour Energy has made its final move to claim Santos Ltd, today. Harbour's offer has raised twice in a time span of five days If Santos Ltd comes into an agreement with this bid amount, Harbour will end up with stakes in LNG in the Asia-Pacific region, where demands are high.

Please Login to Save News for Later